Tag: Regulation

Indian Government ‘Constantly Monitoring’ Crypto Sector, Says Finance Minister – Regulation Bitcoin News

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India’s finance minister, Nirmala Sitharaman, has reportedly revealed that the government is “constantly monitoring” and “watching the crypto sector.” Referring to her budget speech, she noted that crypto taxation will be implemented before the central bank, the Reserve Bank of India (RBI), issues its digital currency. Indian Finance Minister on Monitoring Crypto Sector and RBI’s Digital Currency Launch India’s finance minister, Nirmala Sitharaman, has revealed that government officials are constantly monitoring the crypto sector, India Today reported Monday. Speaking at India Today Budget Roundtable 2022 on the “State of India’s…

FDIC Makes Crypto Evaluation a Priority This Year Citing ‘Significant Safety and Financial System Risks’ – Regulation Bitcoin News

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The U.S. Federal Deposit Insurance Corporation (FDIC) has named the evaluation of crypto assets a priority this year. “The rapid introduction of a variety of crypto-asset or digital asset products into the financial system could pose significant safety and soundness and financial system risks,” the FDIC said. Crypto Evaluation Named a Priority for FDIC The U.S. Federal Deposit Insurance Corporation (FDIC) announced Monday that Acting Chairman Martin J. Gruenberg has released the FDIC’s priorities for the coming year. The FDIC is an independent agency created by the U.S. Congress to…

China’s Digital Currency Could Subvert US Sanctions, Enhance Surveillance Capabilities – Regulation Bitcoin News

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A U.S. senator has warned about China’s central bank digital currency. “Analysts have raised the eCNY’s potential to subvert U.S. sanctions, facilitate illicit money flows, enhance China’s surveillance capabilities, and provide Beijing with ‘first mover’ advantages,” the senator informed Treasury Secretary Janet Yellen. U.S. Senator Warns About the Threat From China’s Central Bank Digital Currency U.S. Senator Pat Toomey sent a letter to Treasury Secretary Janet Yellen and Secretary of State Tony Blinken last week raising concerns about China’s central bank digital currency, the digital yuan. “I write to request…

Nigerian Blockchain Advocacy Group Calls Crypto “Legit”; Insists On Regulation

The Nigerian Government had imposed a ban on crypto exactly a year ago in February 2021. The ban did nothing in terms of putting a lid on cryptocurrency trading; crypto adoption started to look promising in the African country. Stakeholder in Blockchain Technology Association of Nigeria (SIBAN), the Nigerian Blockchain Advocacy Group has now urged the Central Bank of Nigeria to regulate the asset. SIBAN stated that crypto is a legit asset and should not be banned, instead of regulated. SIBAN mentioned that “Crypto is Legit” and went on to…

Nigerian Blockchain Advocacy Group Says ‘Crypto Is Legit’ — Calls for Regulation of Industry – Regulation Bitcoin News

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The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has said crypto is legit and must be regulated. The group adds that any such regulation should on one hand encourage innovation, but discourage bad actors on the other. Equal Access to Banking and Financial Services The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has implored the Central Bank of Nigeria (CBN) to reconsider its decision to block crypto entities from the banking ecosystem. The group insists that “crypto is…

Russian Government to Present Regulatory Scenarios for Cryptocurrencies Within a Week, Report – Regulation Bitcoin News

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The federal government of Russia should be ready with different regulatory scenarios for the country’s crypto market by the end of next working week, documents from a recent meeting have indicated. The executive power in Moscow favors regulation over the prohibition of cryptocurrencies and related activities. Government Inclined to Legalize Rather Than Ban Cryptocurrency in Russia The Russian government, which is hosting the ongoing debate on the future of decentralized digital money in Russia, is going to produce alternative scenarios for crypto regulation by Feb. 11. The Russian business daily…

US Lawmakers Introduce ‘Virtual Currency Tax Fairness Act’ to Boost Cryptocurrency Use for Payments – Regulation Bitcoin News

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Several U.S. lawmakers have introduced the Virtual Currency Tax Fairness Act to strengthen “the legitimacy of cryptocurrency in our digital economy.” The bill also aims to expand the use of cryptocurrencies for payments. Virtual Currency Tax Fairness Act Introduced in the US Representatives Suzan DelBene and David Schweikert introduced the “Virtual Currency Tax Fairness Act of 2022” on Thursday. The bipartisan bill is cosponsored by Congressmen Darren Soto and Tom Emmer. The bill “would create a workable structure for taxing purchases made with virtual currency, also known as cryptocurrency,” the…

Government Official Discusses Indian Crypto Policy, Global Regulations, G20 Meeting – Regulation Bitcoin News

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India’s economic affairs secretary, Ajay Seth, has provided an update on what the Indian government is doing in terms of finalizing cryptocurrency legislation. He expects crypto regulation to be discussed at the upcoming G20 meeting for finance ministers and central bank governors. Economic Affairs Secretary Discusses Cryptocurrency Regulation in India India’s economic affairs secretary, Ajay Seth, reportedly shared the progress of cryptocurrency legislation in India in an interview with PTI, published Friday. A cryptocurrency bill was listed to be considered in the Winter session of parliament but it was not…